Cash Examination_01

What typical part of day should we conduct cash examination?

• At the end of office hours

• During lunch break

• During holiday

• Morning

What form should be accomplished in the conduct of cash examination to document the cash production notice, and the results of the cash examination?

• Cash Count Sheet

• General Form 74(A)

• Reconciliation Statement of Accountability

• AOM

The following are the following situation that requires a mandatory conduct of cash examination, EXCEPT

• Before transfer to another station or office

• On Leave of Absence of the Accountable Officer

• Before retirement / separation of AO

• Reported Loss of Government Funds

This issuance prescribed the use of the revised cash examination manual

• COA Circular 2012-001

• COA Memorandum 2013-004

• COA Memorandum 2014-002

• COA Circular 2009-001

The following are the general objectives of cash examination, except:

• All government funds in the hands of an AO are actually existing and properly accounted for

• The agency and its AO are adhering strictly to prescribed rules and regulations on cash transactions

• Verify if accountable officers records its transactions on a cash book

• The agency’s practices and procedures provide adequate safeguards against fraud and losses of government funds

Liability for loss of funds shall be

• personal liability of the official directing the Accountable Officer

• personal liability of the resident auditor conducting the cash examination

• personal liability of the accountable officer who gave notice in writing

• personal liability of the official or employee found to be directly responsible therefore

Frequency that the cashbook/Cash Receipts Record/Check Disbursement Record should be reconciled with the accounting records

• Quarterly

• Monthly

• Semi-Annually

• Annually

Can the collecting officer issue temporary receipts to acknowledge receipt of public funds?

• Yes

• No

Obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner

The responsibility to take care that resources are managed, utilized or expended in accordance with laws and regulations, and safeguarded against loss or wastage through illegal or improper disposition.

• Accountability

• Responsibility

• Fiscal Responsibility

• Liability